Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. when initially starting a business, many owners ch

When initially starting a business, many owners choose to operate as a partnership. At some...

70.2K

Verified Solution

Question

Accounting

When initially starting a business, many owners choose to operate as a partnership. At some point in the future, they may decide to restructure into another type of entity. What is an advantage of taking this approach? Conversely, are there any benefits the owners may not receive by organizing as a partnership?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

1. Identify the risks and2. Internal control procedure(s) to mitigate the riskCharacteristics of the...1....

Finance
1.2K views

Your factory has been offered a contract to produce a part for a new printer. The...

Accounting
1.2K views

Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The...

Geometry
1.2K views

Triangle A B C is the image of triangle ABC after a sequence of rigid...

Statistics
1.2K views

7 From past experience it is known 90 of 1 year old children can distinguish...

Algebra
1.2K views

Phillip is standing on a rock ledge that juts out over a lake He tosses...

Algebra
1.2K views

Find the partial fraction decomposition of 5/x+x-6

Accounting
1.2K views

Swifty Corporation can produce 100 units of a component part with the following costs: Direct...

Accounting
1.2K views

A debit balance in the direct labor efficiency variance account indicates that

Accounting
1.2K views

Which causes a company to become leveraged? Issuing high...

Accounting
1.2K views

ROK Accountancy provides two lines of service: Accounting % of total Revenue: 60% Contribution Margin...

Accounting
1.2K views

What is listed property? Give 2 Examples( in the business taxation)